Question 1

Can a veteran use a conventional loan instead of VA?

Accepted Answer

Yes. Some veterans prefer conventional to avoid the funding fee or buy a non-primary property. Run both scenarios before deciding.

Question 2

Does VA work for condos in Petaluma?

Accepted Answer

VA requires condo projects to be VA-approved. Not all Petaluma complexes qualify. We check this before you make an offer.

Question 3

Which loan has lower monthly payments?

Accepted Answer

VA usually wins — no PMI and often lower rates. Conventional can match if you put 20% down. Rates vary by borrower profile and market conditions.

Question 4

What credit score does a VA loan require?

Accepted Answer

The VA sets no official minimum. Most lenders want 580-620. We work with lenders across that range.

Question 5

Is the VA funding fee required every time?

Accepted Answer

Yes, unless you have a VA disability rating. It's typically higher on second uses. Veterans with qualifying disabilities are exempt.

Question 6

Can I use VA or conventional for a fixer-upper?

Accepted Answer

Conventional has rehab options like the HomeStyle loan. VA allows some repairs but is stricter on property condition at appraisal.

Conventional vs VA Loans in Petaluma, CA